Ms Thivhu MuzwiririMs Thivhu Muzwiriri is an art teacher and a freelance artist. She teaches at a private schoolfrom 8am to 2pm from Monday to Friday where she earns a salary of R279 000 a year. In theafternoons and evenings, she paints picture in her home studio. During the 2021 year ofassessment she made a net profit of R9 000 from her home painting business. The R9 0003 | Pagenet profit excludes R25 000 that she received from one of her client's that was for the sale ofa painting entitled "The Dangerous". This painting had been given to her by her close friendwho was the artist for the painting as a 21st birthday present 20 years ago." The Dangeroushad been displayed in her bedroom ever since then. It was not for sale but the client wasadamant that he wanted the painting. She had stated that he could have it for R25 000 neverexpecting him to accept. She reluctantly allowed it to go. She consoled herself with the factthat she needed the R25 000 to do the necessary repairs to her home.Required:Discuss whether the various amounts received Ms Thivhu Muzwiriri will be included in grossincome..

In the given question certain incomes are given foe the year 2021. The details are given.

Answered: Ms Thivhu Muzwiriri Ms Thivhu Muzwiriri…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A man formerly employed as a chief mechanic of an automobile repair shop has saved P1,000,000 which are now invested in certain securities giving him an annual dividend of 15%. He now plans to invest this amount in his own repair shop. In his present job, he is earning P25,000 per month, but he has to resign to run his own business. He will need the services of the following: 2 mechanics each earning P400 a day, and 8 helpers earning P200 a day. These men will work on average 300 days a year. His other expenses are the following: Rental = P30,000 a month Miscellaneous = P25,000 a month Sales tax = 3% of gross income Insurance = 2% The Length of his lease is 5 years. If the average charge for each car repair by his shop is P1,000. Determine the number of cars he must service in one year so that he will obtain a profit of at least 20% on his investment?
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A6
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